The Effect of Inflation on the NAB of Sharia Mutual Funds

Oct 13, 2025 by leolavanderia.com.br 38 views

Inflation Effects, Bank Indonesia Syariah Certificates (SBIS), Composite Stock Price Index (CSPI), and Rupiah Exchange Rate to the Net Assets Value (NAB) of Sharia Mutual Funds for the 2011-2014 Period

Introduction

The period between 2011 and 2014 was marked by significant economic fluctuations in Indonesia, which had a profound impact on the value of net assets (NAB) of sharia mutual funds. This study aimed to analyze the effect of several economic factors on the NAB of sharia mutual funds during this period. The factors examined include inflation, Bank Indonesia Sharia Certificate (SBIS), Composite Stock Price Index (CSPI), and rupiah exchange rate. The sample used in this study included four sharia mutual funds listed in Bapepam, with the method of taking purposive sampling. The data collected was analyzed using SPSS version 19 software with multiple linear regression analysis techniques.

The Effect of Inflation on the NAB of Sharia Mutual Funds

Inflation is one of the most discussed economic factors, as it can affect people's purchasing power and overall economic conditions. When inflation increases, usually the value of money will decrease, which has an impact on the decline in asset value. In the context of sharia mutual funds, high inflation can cause NAB to decrease, because operational costs and returns obtained from investment can also be affected. The impact of inflation on the NAB of sharia mutual funds is significant, as it can lead to a decrease in the value of assets and a reduction in returns on investment.

The Role of Bank Indonesia Syariah Certificate (SBIS)

Bank Indonesia Syariah (SBIS) certificate functions as an investment instrument that provides higher returns compared to conventional deposits. The linkage of SBIS to the NAB of sharia mutual funds lies in the attractiveness of investors to this instrument in the context of sharia. The increase in yields from SBIS tends to attract investors to invest in sharia mutual funds, which in turn can increase NAB. The role of SBIS in the NAB of sharia mutual funds is crucial, as it provides a higher return on investment and attracts investors to invest in sharia mutual funds.

IHSG and its Impact

The Composite Stock Price Index (CSPI) is often regarded as an indicator of stock market health in Indonesia. However, this study found that the JCI had no significant influence on the NAB of sharia mutual funds in that period. One possible cause is that sharia mutual funds tend to focus more on investment according to sharia principles, and may not be directly affected by fluctuations in the stock market. The impact of CSPI on the NAB of sharia mutual funds is limited, as sharia mutual funds tend to focus on sharia principles rather than stock market fluctuations.

Rupiah Exchange Rate and Investment

The rupiah exchange rate plays an important role in the context of investment, especially for mutual funds that have an international portfolio. An increase in the rupiah exchange rate can increase purchasing power and reduce investment risk, so that it can have a positive effect on the NAB of sharia mutual funds. Decline in exchange rates, on the other hand, can increase investment costs and reduce potential returns. The impact of rupiah exchange rate on the NAB of sharia mutual funds is significant, as it can affect the value of assets and returns on investment.

Conclusion

This study provides an important insight into the factors that affect the net asset value of sharia mutual funds. By understanding the effect of inflation, SBIS, CSPI, and exchange rates, investors can be wiser in making investment decisions. The results showed that inflation, SBIS, and exchange rates had a significant effect, while the JCI did not have a significant impact. Therefore, it is important for investors and mutual fund managers to continue to monitor economic conditions and adapt to changes that occur in the market.

Recommendations

Based on the findings of this study, the following recommendations are made:

Investors should consider the impact of inflation on the NAB of sharia mutual funds when making investment decisions.
SBIS should be considered as an investment instrument that provides higher returns compared to conventional deposits.
Mutual fund managers should continue to monitor economic conditions and adapt to changes that occur in the market.
Sharia mutual funds should focus on sharia principles rather than stock market fluctuations.

Limitations of the Study

This study has several limitations, including:

The sample used in this study was limited to four sharia mutual funds listed in Bapepam.
The data collected was limited to the period between 2011 and 2014.
The study did not consider other economic factors that may affect the NAB of sharia mutual funds.

Future Research Directions

Future research should consider the following directions:

Investigating the impact of other economic factors on the NAB of sharia mutual funds.
Examining the impact of sharia mutual funds on the overall economy.
Conducting a longitudinal study to examine the impact of economic factors on the NAB of sharia mutual funds over a longer period.

References

[List of references cited in the study]

Appendix

[Appendix containing additional information, such as tables and figures]
Frequently Asked Questions (FAQs) about Inflation Effects, Bank Indonesia Syariah Certificates (SBIS), Composite Stock Price Index (CSPI), and Rupiah Exchange Rate to the Net Assets Value (NAB) of Sharia Mutual Funds for the 2011-2014 Period

Q: What is the main objective of this study? A: The main objective of this study is to analyze the effect of several economic factors on the net asset value (NAB) of sharia mutual funds for the 2011-2014 period.

Q: What are the economic factors examined in this study? A: The economic factors examined in this study include inflation, Bank Indonesia Sharia Certificate (SBIS), Composite Stock Price Index (CSPI), and rupiah exchange rate.

Q: What is the sample used in this study? A: The sample used in this study includes four sharia mutual funds listed in Bapepam, with the method of taking purposive sampling.

Q: What is the method of data analysis used in this study? A: The data collected was analyzed using SPSS version 19 software with multiple linear regression analysis techniques.

Q: What are the findings of this study? A: The findings of this study show that inflation, SBIS, and exchange rates have a significant influence on the NAB of sharia mutual funds, while the JCI did not have a significant impact.

Q: What is the implication of this study for investors? A: The results of this study provide an important insight into the factors that affect the net asset value of sharia mutual funds. By understanding the effect of inflation, SBIS, CSPI, and exchange rates, investors can be wiser in making investment decisions.

Q: What is the recommendation of this study for mutual fund managers? A: Mutual fund managers should continue to monitor economic conditions and adapt to changes that occur in the market.

Q: What are the limitations of this study? A: The limitations of this study include the sample size, data collection period, and the exclusion of other economic factors that may affect the NAB of sharia mutual funds.

Q: What are the future research directions suggested by this study? A: Future research should consider investigating the impact of other economic factors on the NAB of sharia mutual funds, examining the impact of sharia mutual funds on the overall economy, and conducting a longitudinal study to examine the impact of economic factors on the NAB of sharia mutual funds over a longer period.

Q: What are the implications of this study for policymakers? A: The findings of this study suggest that policymakers should consider the impact of economic factors on the NAB of sharia mutual funds when making decisions related to monetary policy and financial regulation.

Q: What are the implications of this study for the financial industry? A: The findings of this study suggest that the financial industry should consider the impact of economic factors on the NAB of sharia mutual funds when making decisions related to investment and risk management.

Q: What are the implications of this study for sharia mutual funds? A: The findings of this study suggest that sharia mutual funds should focus on sharia principles rather than stock market fluctuations and consider the impact of economic factors on the NAB of sharia mutual funds when making investment decisions.